Security and Privacy Tool for Cryptocurrencies

Keeping secure and anonymous on the Internet is an urgent issue these days. There have been so many cases of data breaches that ensuring of online privacy has become paramount to all Internet users.

Since cryptocurrencies are decentralized and aren’t owned by any person or controlled by the community, people have recourse to them as the most reliable payment method on the Internet.

However, cryptos are not so safe as they may seem.

Bitcoin, the most popular cryptocurrency, is rather pseudonymous than anonymous. Of course, such Bitcoin components as transactions, private/public keys, addresses are not directly linked to anyone’s identity. At the same time, if an address will somehow be linked to a real-world identity, Bitcoin offers no privacy.

Then, the question arises – how to protect identity when using Bitcoin or other cryptos? In this case, a VPN technology comes to the rescue. Today the market offers a wide choice of VPN providers, it’s crucial to look through reviews to see if a service trustworthy or not.

What’s a VPN?

A Virtual Private Network was initially developed for virtual data protection. It was mainly used by governments and employees of big corporations, who worked remotely and had to transfer sensitive data privately.

However, today this technology is available for all individual users as well. Moreover, VPN services have established themselves as the most robust tool to hide personal information from prying eyes.

A VPN creates a secret tunnel between two servers, providing a user with a virtual IP address, which will be used for an online session. This virtual access can originate from a different country. A user is able to choose any location he wishes.

However, the number one benefit of a VPN is robust encryption that is provided by the most robust services on the market.

Advanced VPN providers offer AES 256-bit encryption that is considered to be the strongest these days. The number 256 refers to the key length. It means that a cracker will need 2256 different combinations to access data. Hopefully, it’s impossible not only for hackers but even for the fastest computer in the world.

Why Use a VPN with Bitcoin?

Undoubtedly, cryptocurrencies, in particular, Bitcoin has gained widespread popularity. More and more places are accepting Bitcoin as a payment method.

As it was found out in a NordVPN review, today it is even possible to pay with a cryptocurrency for this or that service.  Not to mention ATMs which have been installed in certain countries.

It comes as a no surprise that cryptocurrencies are so widely used, they provide opportunities to individual people to partake in commerce without the need for a bank. Today, cryptos can be used across borders and purchased with any type of money.

All these can bring today’s globalized economy into the future.

However, the chances of fraud and phishing increase without a proper security tool while conducting transactions.

Experts suggest using Bitcoin wallets together with a reliable VPN provider. Bitcoin wallets, as well as a VPN, offer high-level encryption. However, they fail to secure transactions. To shield a transaction, a reliable VPN is needed.

By means of a VPN provider, all traffic is encrypted through a dedicated server which is hosted in another location.

The Main Reasons to Take Care of Online Privacy

It’s an open secret that not all countries permit their residents to buy and sell cryptocurrencies.

Digital money was prohibited on the major financial markets for years. Even if a country allows cryptocurrencies trading, it can have a very specific regulation on it.  Converting one token to another can result in paying enormous taxes.

However, with the help of a VPN, it’s possible to change a virtual location. A user just needs to connect to a server located in a country where cryptocurrency trading is legal. It will also help to avoid paying unnecessary fees.

Sometimes one has to use Wi-Fi to connect to the Internet. The truth is public Wi-Fi hotspots are not safe enough. Actually, they are the main targets for online thieves and other no-gooders.

With so much important Bitcoin-related information, it’s immensely vital to take care of online privacy and defend data from people who want to steal it. A VPN hides online activity and data by masking IP address and creating an invisible tunnel. Neither a hacker nor ISP is able to trace transaction on the Internet.

Another benefit of a VPN is that it allows traveling the world staying at home. A service with a wide server park offers its customers almost limitless choice of servers all around the world and gives an opportunity to select the best IP for Bitcoin mining.

Moreover, this also allows to connect to the website that can be restricted from a user’s country for one reason or another.

How to Choose a Trustworthy VPN?

Being a protective measure, a VPN should guard a user against any uncontrolled interference on the Internet. Thus, it’s crucial to use a VPN with the most reliable protocols and 256-bit encryption.

If talking about anonymity, a VPN should have a strong no-logging policy that will guarantee a provider will not reveal sensitive data of a user to any third-party.

Today almost all providers claim that they adhere to a no logs policy. Unfortunately, it is not always true. If read a privacy policy carefully, it’s possible to find certain nuances that raise questions in terms of reliability of a provider. In this regard, while choosing a VPN, one must read terms of use and a privacy policy carefully.

As we speak about a VPN for cryptocurrency, connection speeds matter a lot. All VPN providers reduce speeds somehow. However, some of them offer unlimited bandwidth.

It is recommended to read forums or reviews before paying for this or that VPN service. There a customer may compare VPNs and give preferences to this or that service.

Conclusion

Both cryptocurrency and VPN have a lot in common. They are both designed for a user as they’re not controlled by crazy monetization and advertising strategies. VPNs, as well as cryptocurrencies, have privacy as one of its main focuses.

Unlike other technologies that collect user’s data to make some profit, VPN providers are designed for improving online privacy and anonymity. Today they are both used internationally and valued for anonymity they can bring when used together.

 

Contributed by Dainan Gilmore

Dainan Gilmore is an enthusiastic expert in cybersecurity and works as a data privacy advisor for Bestvpnrating.com.

 

1 Comment

  • Henry
    Posted January 18, 2019 7:47 pm 0Likes

    NordVPN is the only provider I’ve tried, I never felt I needed to look for any other option as it works just fine and from what I read on review sites it’s still one of the safest options. Glad you mentioned it too.

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